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Investor Presentaiton

External growth ~Selective investments backed by Pipeline Support~ Through selective investments backed by Pipeline Support, AEON REIT acquires properties at adequate terms while maintaining the quality of the portfolio. Track record of selective investments ~Quality of portfolio~ AEON REIT acquires only approx. 30% of properties considered Ratio of acquisitions and no. of opportunities looked at ■Postponement of acquisition ■Acquired Track record of selective investments ~Adequate terms~ Ratio of one-on-one (exclusive) property acquisitions 100% Acquisitions through one-on-one (exclusive) transactions (Note 2) 1,583 354 (Note 1) 866 751 150 204 2013 2014 2015 2016 2017 ÆON REIT Investment Corporation 180 515 (100 million yen) 213 2018 2019 2020 2021 2022 2023 53% Exclusive transactions 47% 100% Third Party Sponsor 29
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